AQR Capital Management LLC Raises Stake in iHeartMedia, Inc. (NASDAQ:IHRT)

AQR Capital Management LLC increased its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 132.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,909,729 shares of the company’s stock after purchasing an additional 2,227,676 shares during the quarter. AQR Capital Management LLC owned 2.70% of iHeartMedia worth $4,262,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Aristeia Capital L.L.C. acquired a new stake in shares of iHeartMedia in the second quarter worth $2,461,000. Hsbc Holdings PLC increased its holdings in iHeartMedia by 111.4% in the 2nd quarter. Hsbc Holdings PLC now owns 156,842 shares of the company’s stock valued at $176,000 after purchasing an additional 82,641 shares in the last quarter. Renaissance Technologies LLC raised its position in iHeartMedia by 644.6% in the second quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock valued at $182,000 after purchasing an additional 144,400 shares during the period. PFG Investments LLC lifted its stake in shares of iHeartMedia by 53.5% during the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of iHeartMedia by 287.5% in the second quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock worth $854,000 after buying an additional 581,980 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Performance

IHRT stock opened at $1.97 on Friday. The stock has a 50-day simple moving average of $1.60 and a 200-day simple moving average of $1.55. The firm has a market cap of $285.25 million, a P/E ratio of -0.33, a price-to-earnings-growth ratio of 0.33 and a beta of 1.71. iHeartMedia, Inc. has a 1 year low of $0.81 and a 1 year high of $3.12.

iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.08. The firm had revenue of $929.09 million during the quarter, compared to analyst estimates of $918.03 million. On average, equities research analysts predict that iHeartMedia, Inc. will post 0.17 EPS for the current year.

iHeartMedia Profile

iHeartMedia, Inc operates as an audio media company in the United States and internationally. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship and events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.